Welcome to our dedicated page for Compass Diversified news (Ticker: CODI), a resource for investors and traders seeking the latest updates and insights on Compass Diversified stock.
Compass Diversified Holdings, trading under the symbol CODI, is a diversified business conglomerate based in the United States. Since its founding in 1998, the company has focused on the middle market space, maintaining the same strategy and philosophy: acquiring companies with a clear 'reason to exist' that they could own forever.
CODI operates through two primary segments: branded consumer businesses and industrial businesses.
Branded consumer businesses are those that leverage a valuable brand name in their respective markets. The portfolio includes well-known names like 5.11, Ergobaby, Liberty Safe, and Velocity Outdoor.
Industrial businesses focus on manufacturing and selling specific products and services within defined market sectors. These operations extend globally, including regions like Canada, Europe, Asia Pacific, and other international areas.
Recent achievements highlight CODI’s commitment to growth and innovation. A significant capital infusion has further boosted the company's liquidity, positioning it for accelerated growth. Additionally, CODI's unique business model and significant competitive advantage continue to drive strong results.
Noteworthy recent developments include the enhanced positioning of The Honey Pot Company, a leading feminine care brand, through CODI resources. The brand offers plant-derived, clinically tested formulas available in over 33,000 stores across the U.S., including major retailers like Target, Walmart, CVS, and Walgreens.
CODI is dedicated to partnering with outstanding management teams, providing them with patient growth capital. The company’s approach ensures a stable operational environment, embracing positive change as a catalyst for growth while remaining true to its foundational values.
For investor relations, please contact: irinquiry@compassdiversified.com or Gateway Group's Cody Slach at 949.574.3860. For media inquiries, reach out to mediainquiry@compassdiversified.com or The IGB Group's Leon Berman at 212.477.8438.
Foam Fabricators, a leader in custom protective packaging solutions, will support the U.S. COVID-19 vaccine distribution using its twelve advanced manufacturing facilities. The company specializes in lightweight, low-cost, and recyclable EPS molded insulated containers that ensure temperature control for vaccine storage. Acquired by Compass Diversified (NYSE: CODI) in 2018, Foam Fabricators has a 60-year track record and extensive industry experience. They previously assisted with the H1N1 vaccine in 2009, demonstrating their capability to address significant logistical challenges.
Compass Diversified (CODI) will host a virtual investor day on December 10, 2020, at 1:00 PM ET. The event will feature presentations from the management team and its subsidiary, BOA Technology, followed by a Q&A session. Interested participants can pre-register and access the live video webcast. CODI focuses on owning and managing leading middle market businesses, leveraging long-term capital and expertise to drive growth and value creation.
Compass Diversified (CODI) reported robust third-quarter results with net sales of $418.9 million, up from $388.3 million in Q3 2019. The company achieved a net income of $20.9 million, reversing a net loss of $26.5 million in the prior year, and a non-GAAP Adjusted EBITDA of $73.9 million. CODI declared a cash distribution of $0.36 per share, bringing cumulative distributions to over $20 per share since its IPO. The acquisition of BOA Technology, completed post-quarter-end for $454 million, strengthens CODI's portfolio in branded consumer businesses.
Compass Diversified (NYSE: CODI) has successfully acquired BOA Technology Inc. for $454 million, marking a significant expansion into the performance fit market. The acquisition was funded through existing cash and a $300 million draw from its revolving credit facility. CODI now holds 82% equity in BOA, with the remaining 18% retained by BOA’s management and shareholders. This acquisition is expected to enhance CODI's growth strategy, leveraging BOA's innovative Fit System used in various industries worldwide.
Compass Diversified (NYSE: CODI) will release its third quarter financial results on October 28, 2020, after market close. The results will be discussed in a conference call at 5:00 p.m. ET, featuring executives including CEO Elias J. Sabo and CFO Ryan J. Faulkingham. Interested investors can join at (833) 900-1532 (domestic) or (236) 712-2273 (international) with passcode 5056636. A replay will be available until November 4, 2020. CODI manages a diverse portfolio of middle-market businesses, aiming for long-term cash flow and shareholder value.
On October 2, 2020, Compass Diversified (NYSE: CODI) announced the retirement of Don Hinshaw as CEO of its subsidiary, The Sterno Group, effective December 31, 2020. Craig Carnes, previously the President of Sterno’s Foodservice Group, will take over as CEO on January 1, 2021. Hinshaw, who has led Sterno for 12 years, will remain on the Board of Directors. His leadership saw significant growth and acquisitions for Sterno. The company positions itself as a leader in portable food warming and lighting solutions, continuing to adapt to consumer needs under Carnes' leadership.
Compass Diversified (NYSE: CODI) announced a quarterly cash distribution of $0.36 per share on its common shares, marking the 39th consecutive quarter of such distributions. This payment is due on October 22, 2020, for shareholders recorded by October 15, 2020. Additionally, the company declared distributions of $0.453125 per Series A Preferred Share, and $0.4921875 per Series B and C Preferred Shares, all payable on October 30, 2020. CEO Elias Sabo highlighted the company's resilience amidst the COVID-19 pandemic and its successful business model.
On September 22, 2020, Compass Diversified (CODI) announced its acquisition of BOA Technology for $454 million. BOA is renowned for its award-winning BOA Fit System, utilized in various athletic and medical products. This acquisition aims to enhance CODI's portfolio of niche market brands and support BOA's continued innovation and growth. CODI's CEO stated that BOA's focus on excellence and innovation aligns well with their strategic vision. The deal is projected to close within 45 days, pending customary conditions, allowing BOA to maintain its leadership under CEO Shawn Neville following the acquisition.
Foam Fabricators, a leader in custom protective packaging, has announced a strategic investment in Rational Packaging, enhancing its capabilities in recyclable structural packaging. Following a partnership established in July 2020, this move aims to provide innovative and sustainable solutions to a diverse customer base. Foam Fabricators, backed by CODI, is transforming into a complete packaging solutions provider. Both companies are focused on expanding their market presence while prioritizing customer satisfaction and sustainability.
Sterno Home Inc., a leader in flameless candles, announced that the International Trade Commission (ITC) has launched an investigation against L&L Candle Company and its affiliates, alleging patent infringements on four patents. Sterno Home is pursuing an Exclusion Order to block L&L's importation of infringing products, including Wick to Flame and Push Flame candles. This marks Sterno Home's second legal action against L&L this year after a federal lawsuit filed in May. Sterno Home aims to protect its patent rights and seeks damages and an injunction against L&L.
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What is The Honey Pot Company?
